President John Dramani Mahama has called an emergency Cabinet meeting to confront surging fuel prices, as geopolitical tensions in the Middle East continue to drive up petroleum costs in Ghana.

The announcement, made during the second day of the Kwahu Business Forum 2026 on Saturday, April 4, signals the government’s intent to roll out urgent interventions aimed at cushioning consumers.

“I have called for this emergency cabinet meeting to decide on specific measures we can take to cushion petroleum prices while we hope the conflict comes to an end. There are adjustments we can make, particularly in the margins, to help maintain relatively stable prices as we pray for the war to cease,” he said.

According to the President, Cabinet will undertake a comprehensive review of the fuel pricing structure, including margins and levies, as part of efforts to limit the impact on households and businesses.

“The government remains fully committed to easing the burden on citizens. The cabinet will examine various aspects of the fuel price build-up and consider interventions to provide relief,” Mahama stated.

Recent data from the National Petroleum Authority show petrol prices have jumped by about 15% to around GH¢13.30 per litre, while diesel has risen nearly 19% to approximately GH¢17.10 per litre since April 1. The increases reflect higher global crude oil prices and supply disruptions linked to tensions involving Iran and the wider region.

Amid growing concerns over inflation, the President moved to reassure Ghanaians about economic stability. “I can confidently tell you that the economy will not collapse because of the war in Iran,” he emphasised.

He further commended transport unions for maintaining fare levels despite rising operational costs, describing their restraint as vital in preventing a broader surge in living expenses.

“I want to express my sincere gratitude to the transport unions for their patience and understanding. We did not anticipate this situation, but they have held off on increasing fares. I am confident they will continue to exercise restraint as we work together to improve the situation,” he said.